United Trust Bank (UTB) has reduced rates by up to 7 basis points across its regulated standard and light refurbishment bridging loans, with pricing now starting from 0.57% a month.
The specialist lender said the changes take effect immediately and apply across the full range, with lower rates available at each loan-to-value tier.
Under the revised structure, rates start at 0.57% a month for loans below 50% loan-to-value, rising to 0.58% below 60% loan-to-value, 0.59% below 65% loan-to-value, 0.61% below 70% loan-to-value and 0.65% below 75% loan-to-value.
The move follows recent changes to underwriting and processing at UTB Bridging, which the bank said have improved turnaround times on cases.
According to the lender, the average time from application to decision in principle, and from decision in principle to valuation, has halved. It also said more than half of completed bridging deals now use an automated valuation model, which it said can reduce cost and shorten timescales for borrowers.
The latest repricing comes as lenders continue to compete on both service and pricing in the bridging market, particularly in regulated cases where speed and certainty remain central to broker recommendations.
Andrew Ferguson (pictured), commercial director of mortgages, buy-to-let & bridging at United Trust Bank, says: “We know how important it is for brokers to have access to genuinely competitive pricing, especially in a market that continues to shift, so these rate reductions are all about giving our broker partners even more ways to win business and deliver great outcomes for their clients.
“At the same time, we’ve been working hard behind the scenes to make sure our service matches that pricing. The changes we’ve made to our underwriting and processing are already having a real impact, with significantly faster times from application to completion at a pace brokers expect from an experienced bridging lender.
“We’re focused on combining sharp pricing with speed, certainty and a smoother broker experience and remain fully committed to supporting bridging brokers with the tools, service and consistency they need to place business with confidence.”
